empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

26.08.201411:40 Forex Analysis & Reviews: #USDX Technical analysis for August 26, 2014

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The Dollar index made a double top yesterday and got rejected at the previous highs at 82.64. The short-term bearish reversal has brought the index right on the Ichimoku cloud support. At 82.40 the Ichimoku cloud support should hold the selling pressures and give the index a strong upward bounce towards 82.70.

Exchange Rates 26.08.2014 analysis

The Dollar index has broken the green downward sloping trend line, got rejected at 82.64 and is now back testing this break out level. Support at 82.40 is important for the short term. A strong bounce towards the highs is expected as long as the index remains above 82.40. Breaking below 82.40 and below the Ichimoku cloud could push the index towards 82.

Exchange Rates 26.08.2014 analysis

Strong resistance is found at 82.70 in the daily chart as prices have hit the upper channel boundaries. Critical daily support is found at 81.85 where the channel boundaries are. Bulls should be very cautious and keep their stops tight.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off